Brazil’s Odebrecht launches $400 million perpetual notes at 7%

By Aleesia Forni and Christine Van Dusen

Virginia Beach, June 10 – Brazil’s Odebrecht Oil & Gas Finance Ltd. launched a $400 million offering of perpetual senior notes (/BBB-/) to yield 7% on Tuesday, a market source said.

Morgan Stanley, BB Securities and Bradesco BBI are the bookrunners for the Rule 144A and Regulation S deal.

HSBC, Itau BBA and Santander are the global coordinators, while Credit Agricole, Mitsubishi UFJ Securities, Natixis and Societe Generale are the co-managers.

Proceeds will be used for general corporate purposes.

Odebrecht Oil & Gas will guarantee the notes.

Odebrecht is an engineering, construction, chemical and petrochemical conglomerate based in Salvador da Bahia, Brazil.

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